Nifty likely to calm down
Nifty after having a roller coaster ride on Friday manged to close at 5,052 ending 63 points higher, Sensex too made good gains past afternoon, and closed at 17,021 ending 230 points higher. This week markets gained a net of 1 %.
Nifty rose 1.07% and the Sensex gained 1% over the week. FII’s on Friday were net seller worth 430cr’s. The Foreign Institutional Investors (FIIs) bought shares worth 25.6 billion during the week. While the Domestic Institutions were net sellers selling shares worth 8 billion during the week.
The Top gainers: The top gainers were Maral Overseas (up +59), BF Utitles (up 40.2%), Reliance Capital (up 5.1%), Hero Honda (up 4.6%), Maruti Suzuki (up 4.4%) and ACC (up 3.7%).
The Top Losers: The top losers were Reliance Infrastructure (down 4.9%), Bharti Airtel (down 4.4%), Tata Power (down 0.7%),
Renuka Sugar Result update: Renuka Sugar posted a profit after prior period adjustments of 2.2 billion for the year ended September 30, 2009.
Markets are likely to facing some downside in the coming days as profit booking seems to be coming in at higher levels. Moreover Domestic mutual funds booked Rs 12,639 crore profit in the first half of the financial year by selling equity.
Resistace for Nifty stands at 5080 levels and the near term support is at 4990 levels. Technically speaking Nifty now seems to be in the Overbought. The 30 and 50 DMA for Nifty stands at 4947, 4952 levels.
Tags: call put tips, market review, nifty tips, nifty view, nse bse tips, weekly market reivew
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